Trump, likely to benefit from new bill, still refuses to release taxes

The White House said Tuesday that President Trump would likely owe more in taxes under the bill that passed the House but declined to release his 2016 returns on the grounds they are being audited. Both claims are disputed by tax experts.

“We expect that it likely will, on the personal side, could cost the president a lot of money,” said press secretary Sarah Sanders when pushed on Trump’s claim that the bill would cost him “a fortune.”

Multipleanalyses have shown that one of the primary beneficiaries of the tax bill will be commercial real estate, the business from which Trump and his family members receive the majority of their income. An analysis done for NBC News based on Trump’s leaked 2005 returns estimated he could personally save $22 million under the new bill. The Trump family would also save money from the doubling of the estate tax exemption.